UBS Group Cuts FMC (NYSE:FMC) Price Target to $66.00

FMC (NYSE:FMC) had its target price reduced by UBS Group from $75.00 to $66.00 in a report published on Friday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

Other equities research analysts have also issued research reports about the stock. Royal Bank of Canada lifted their price objective on shares of FMC from $78.00 to $81.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Citigroup decreased their price target on shares of FMC from $70.00 to $55.00 and set a “neutral” rating for the company in a research note on Wednesday, December 18th. Finally, Mizuho increased their price objective on FMC from $64.00 to $70.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.69.

FMC Stock Up 4.8 %

Shares of NYSE FMC opened at $50.15 on Friday. FMC has a 1 year low of $47.73 and a 1 year high of $68.72. The firm has a 50-day simple moving average of $58.69 and a two-hundred day simple moving average of $59.84. The company has a market cap of $6.26 billion, a P/E ratio of 4.32, a PEG ratio of 1.48 and a beta of 0.80. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.48 and a quick ratio of 1.09.

FMC (NYSE:FMC) last issued its quarterly earnings results on Tuesday, October 29th. The basic materials company reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.20. The firm had revenue of $1.07 billion during the quarter, compared to analyst estimates of $1.04 billion. FMC had a return on equity of 7.68% and a net margin of 34.93%. FMC’s quarterly revenue was up 8.5% compared to the same quarter last year. During the same period last year, the company earned $0.44 EPS. Research analysts anticipate that FMC will post 3.35 earnings per share for the current year.

FMC Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 16th. Investors of record on Tuesday, December 31st will be paid a dividend of $0.58 per share. This represents a $2.32 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Tuesday, December 31st. FMC’s dividend payout ratio (DPR) is currently 19.97%.

Insider Buying and Selling at FMC

In related news, VP Jacqueline Scanlan sold 4,529 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were sold at an average price of $59.67, for a total transaction of $270,245.43. Following the completion of the sale, the vice president now owns 28,649 shares of the company’s stock, valued at $1,709,485.83. This represents a 13.65 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.85% of the stock is owned by insiders.

Hedge Funds Weigh In On FMC

Several institutional investors and hedge funds have recently bought and sold shares of the company. New York State Teachers Retirement System grew its stake in FMC by 0.5% during the 2nd quarter. New York State Teachers Retirement System now owns 123,292 shares of the basic materials company’s stock worth $7,095,000 after buying an additional 576 shares during the last quarter. Addison Capital Co boosted its holdings in FMC by 5.9% in the second quarter. Addison Capital Co now owns 27,331 shares of the basic materials company’s stock worth $1,573,000 after acquiring an additional 1,527 shares in the last quarter. Bank of New York Mellon Corp grew its stake in shares of FMC by 2.1% during the second quarter. Bank of New York Mellon Corp now owns 858,129 shares of the basic materials company’s stock worth $49,385,000 after acquiring an additional 17,381 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of FMC by 9.1% during the second quarter. Allspring Global Investments Holdings LLC now owns 9,240 shares of the basic materials company’s stock valued at $532,000 after acquiring an additional 773 shares in the last quarter. Finally, Summit Securities Group LLC purchased a new position in shares of FMC in the 2nd quarter valued at approximately $58,000. 91.86% of the stock is owned by hedge funds and other institutional investors.

About FMC

FMC Corporation, an agricultural sciences company, provides crop protection, plant health, and professional pest and turf management products. It develops, markets, and sells crop protection chemicals that includes insecticides, herbicides, and fungicides; and biologicals, crop nutrition, and seed treatment products, which are used in agriculture to enhance crop yield and quality by controlling a range of insects, weeds, and diseases, as well as in non-agricultural markets for pest control.